Canada’s economy contracted 0.2 % in February, its first monthly decline since November, as slumps in mining, oil and gas extraction, and construction dragged overall output lower, Statistics Canada said.
Canada’s economy contracted by 0.2 percent in February, the first monthly decline since November, as weakness in mining, oil and gas extraction and construction offset gains elsewhere, Statistics Canada reported on Wednesday.
The goods-producing side of the economy shrank 0.6 percent, led by a 2.5 percent slide in mining, quarrying and oil and gas extraction after two months of growth. Construction fell 0.5 percent—its first drop in four months—driven largely by a 0.9 percent decline in residential building activity. Service-producing industries edged down 0.1 percent, with modest pullbacks in real-estate rental and leasing, finance and insurance, and education.
Statistics Canada said harsh winter storms in several provinces contributed to February’s weakness. Businesses also faced softer demand after earlier stocking up on supplies amid uncertainty over potential U.S. tariffs; those advance purchases have left inventories high and dampened new orders.
Analysts had expected February output to be flat, matching the agency’s advance reading. January GDP had climbed 0.4 percent.
StatCan’s early estimate points to a 0.1 percent expansion in March and annualised first-quarter growth of about 1.5 percent, though final quarterly figures—calculated from expenditure and income data—may differ slightly.
While strong consumer spending and lower interest rates lifted growth late last year, the Bank of Canada warns that 2025 could prove challenging as the economy contends with U.S. duties on steel, aluminium, autos and other goods.
Armenia’s National Assembly election on 7 June is increasingly being viewed not only as a domestic political contest, but also as a vote that could ...
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U.S. President Donald Trump said he sees progress between Israel and Lebanon after talks with Netanyahu, while Hezbollah has rejected a new ceasefire ...
Armenia’s National Assembly election on 7 June is increasingly being viewed not only as a domestic political contest, but also as a vote that could shape the future direction of the South Caucasus.
An ageing, poorly insured shadow armada now accounts for around one-sixth of the world's tanker fleet. Hidden by design and fraught with risk, it operates beyond conventional oversight. A maritime law expert explains how it works, who profits, and why much of the world looks the other way.
The U.S. said it struck Iranian radar sites on Qeshm Island and in Goruk after intercepting four drones, while Iran's Revolutionary Guards said they launches retaliatory strikes on four tankers in the Strait of Hormuz and targeted U.S. bases in the Gulf.
U.S. President Donald Trump said he sees progress between Israel and Lebanon after talks with Netanyahu, while Hezbollah has rejected a new ceasefire proposal and Israel has ruled out a troop withdrawal.
Iran’s Revolutionary Guards (IRGC) said in a statement that its Aerospace Force did not strike the Kuwait Airport passenger terminal on Wednesday, and that the destruction was instead caused by a failed U.S. Patriot missile.
Five Azerbaijani citizens have been killed and three others injured following drone attacks on two cargo vessels in the Sea of Azov, Azerbaijan's Foreign Ministry said on Friday.
Azerbaijan has strongly rejected allegations published by CNN claiming that its territory was used for Israeli military and intelligence operations against Iran, describing the report as entirely baseless and demanding a retraction.
As Armenia heads toward parliamentary elections on 7 June, the country's relationship with Azerbaijan is emerging as one of the defining issues of the campaign, with analysts and international observers highlighting the role of regional politics in shaping voters’ mindsets.
Armenia will hold parliamentary elections on 7 June 2026, a vote that will shape the country’s political direction for the next five years. Understanding how the electoral system converts votes into parliamentary power is key to following the outcome and its wider regional implications.
People across Gaza are facing a worsening humanitarian crisis, with millions struggling to access food, clean water, shelter and medical care as the conflict continues.
The next time a goal goes in during a Champions League final, fans around the world could watch it from every angle at once — frozen, rotated and replayed in ways that were impossible only a few years ago.
An ageing, poorly insured shadow armada now accounts for around one-sixth of the world's tanker fleet. Hidden by design and fraught with risk, it operates beyond conventional oversight. A maritime law expert explains how it works, who profits, and why much of the world looks the other way.
Financial markets are significantly underestimating the economic impact of biodiversity loss, potentially leaving countries exposed to sovereign debt crises and rising borrowing costs, according to new research published on Friday.
Five astronauts aboard the International Space Station (ISS) were instructed to take shelter and prepare for a possible evacuation on Friday after an air leak in the Russian segment of the orbital outpost worsened, according to NASA.
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